NFL Sports Betting Boosts New Jersey Revenue

Home » NFL Sports Betting Boosts New Jersey Revenue

Since the new laws on sports betting and iGaming came into effect in the US, New Jersey has seen yet another betting record reached, with reports of an increase of almost 21%, compared to December, this blows the previous record of 4% set in November, out of the water! Overall, New Jersey operators handled a staggering $385.3 million in wagers, which the majority was down to the fact that the Garden State’s punters could bet on the NFL for the first time in history!

Talking of historic milestones, online casino revenue topped the $30 million mark for a total operator revenue. The exact figure was $33.6 million that’s up 53% – 15.8% month-on-month. New Jersey’s casino industry saw a spike in revenue in from 2017 to 2018, with a total of $289.7 million collected, that’s a 22% increase and thanks to the NFL and other major sporting events, 2018 sets to break that record even further.

Online betting handled $305 million in January, another record-breaker as this was the first time in the state’s history that the revenue surpassed the $300 million mark. Despite a monthly decrease in revenue of 9.6% (to $18.8 million), sports betting remained popular with £82.1 million wagered on NFL and American football games (21% of the handle share) and £135.6 million wagered on the NBA – that’s 35% of the share.

Three casinos in New Jersey are reaping the rewards of new regulation; FanDuel with £7 million in revenue, DraftKings/Resorts Digital (a team effort) saw an increase in revenue of $200,000 to $6.9 million but Borgata is sitting at the top of the food chain with reported profits of $55.8 million!

Source: https://lcb.org/news/new-jersey-revenue-boosted-by-nfl-igaming

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